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Emily Breza
Emily Breza joined the Economics Department at Harvard University as an Assistant Professor in January 2017. She received her Ph.D. in economics from MIT (Massachusetts Institute of Technology) and her B.A. from Yale University. After graduate school, she joined the faculty of Columbia Business School in the Finance and Economics Division. She is particularly interested in how financial decision-making interacts with both social effects and behavioral biases, and how financial product design can better integrate these factors. Some of her current research aims to use social networks to help present-biased savers better accomplish their goals. She is also involved in a project to understand the impacts of the 2010 Andhra Pradesh microfinance ordinance, which stopped all collections and lending activities of micro-lenders, on previous microfinance borrowers.
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Labour rationing and forced entrepreneurship in village India
When individuals are rationed out of the labour market, this not just decreases welfare but can also create labour misallocation as rationed workers may turn to less-productive self-employment activities.
Measuring the equilibrium impacts of credit: Evidence from India’s 2010 microfinance crisis
In October 2010, the government of Andhra Pradesh issued an emergency ordinance, bringing microfinance activities in the state to a complete halt and causing a nationwide shock to the liquidity of lenders, especially those with loans in the affected state. Using this massive dislocation in the microfinance market, this article identifies the “general equilibrium” impacts of a reduction in credit supply, which encompass changes to wages, employment, and consumption in the economy.